Slow economic growth in Maritimes expected due to tariffs, population numbers: study

Dawn Desjardins discusses a new study that predicts slow economic growth in the Maritimes this year.

A new study from Deloitte Canada predicts slow economic growth in New Brunswick, Nova Scotia and Prince Edward Island in 2026 due to ongoing tariff and trade issues.

New Brunswick, which has been weathering the fallout of the United States’ 45 per cent tariff on softwood lumber, is expected to see its economic growth hit 1.4 per cent this year, which is a slight increase from 1.1 per cent in 2025.

The report cited the tariffs, along with the reduced number of temporary foreign workers in the province, as the culprits for the sluggish growth.

The report noted the Sisson Mine, which was added to Canada’s list of nation-building projects last year, as a potential economic positive in 2026.

P.E.I. growth is predicted to reach 1.5 per cent, which the report attributes to trade uncertainty, weaker population gains and reduced consumer spending.

“Despite these headwinds, several factors continue to support growth,” the report reads. “Construction remains a major contributor, supported by strong residential investment and large-scale projects such as Charlottetown’s waste processing plant, which is set to create jobs in targeted sectors.”

In Nova Scotia, economic growth is expected to slow down to 1.6 per cent due to tariffs and slower population increases. The report also cited the province’s projected $1.2-billion budget deficit as a restriction on growth in 2026.